Hare West Hendred

Reading Road, West Hendred, Wantage OX12 8RH

  • Hare West Hendred
  • Hare West Hendred
  • Hare West Hendred
  • Hare West Hendred

Hare West Hendred

Great Pub in a Prominent Location

The subject of a proposed refurbishment, The Hare is a fantastic pub located in the historic parish of West Hendred, Oxfordshire and currently the subject of a proposed refurbishment. A beautiful white timber-clad building, it occupies a prominent site at the corner of a T-junction heading into the village on the Reading Road.

This 200 year old pub, while currently closed, is adored by local residents and after the refurbishment, will have all the ingredients to allow an entrepreneurial operator the opportunity to build a strong business that is a hub of the local community attracting families, locals and passing trade alike.

Experienced and Ambitious Operator Wanted!

The ideal operator will have experience in launching and developing a quality food offer and have the drive and ambition to push business forward.

Pub Features

  • Rolling Tenancy
  • Car Parking
  • Refurbishment Planned
  • Catering Kitchen
  • Long-Term FRI Lease
  • Outdoor Trade
  • Private Accommodation
  • Weekly Billing
  • Monthly Billing

Trading Area & Facilities

Internally, The Hare has an eclectic mix of modern and traditional features including exposed timber flooring, exposed ceiling beams and a red brick fire place. The proposed refurbishment, which is currently being finalised, will see the traditional character remain but upgrade it to a standard that will meet discerning consumers' high expectations.

The pub offers an open plan main bar area which has discrete areas for both dining and drinking. To the rear it has a conservatory area which is an area for a more formal dining experience. At present the pub can accommodate 45 covers however we plan to increase this in the refurbishment.

Externally, the pub has a lovely seating area which we also plan to enhance.
The pub has a catering kitchen which is situated to the rear of the pub.
There are around 30 car parking spaces.

Applicants should be aware that all refurbishments are subject to final board approval which will be determined as part of the leasing process.

Where a significant investment is made in a pub by Star Pubs & Bars, an "Investment Exemption" will be required. The exemption means that the option of a Market Rent Option lease won't be available at rent review for a period of up to seven years for this site, as per The Pub Code (2016).

Private Accommodation

The private accommodation comprises three bedrooms, a lounge, kitchen and bathroom. As part of our promise to you, we will ensure your private accommodation is in good order from day one so that you can focus your energy on getting the business right.

Premises Licence Details

See licence for full details.

Premises Licence Opening Hours

Mon Tue Wed Thu Fri Sat Sun
11:00 - 00:00 11:00 - 00:00 11:00 - 00:00 11:00 - 02:00 11:00 - 02:00 11:00 - 02:00 11:00 - 00:00

Financials

Annual Rent £
49,000
Estimated Annual FMOP (Licensee Profit) £
52,863
Representative HEINEKEN UK Brand Discount Per Barrel £
135
Estimated Annual Turnover £
555,485
Estimated Annual Barrelage
207

The above figures are provided as a guide only and will be finalised as part of the commercial agreement (please download the rent model from Trading Information section for full financial details).

Historical volume figures may not include purchases made through 3rd Parties.

** All figures quoted are exclusive of VAT

*** FMOP = Fair Maintainable Operating Profit

Investment

Ingoing Costs
Estimated Licensee Fixtures & Fittings Value £
37,355
Estimated Fixtures & Fittings Valuation Fee £
250
Estimated Stock Valuation £
12,000
Deposit Amount £
12,250
Rent In Advance £
942
Training Fee £
1,000
Estimated Designated Premises Supervisor / Manager Fee £
60
Premises Licence Fee £
295
Rates Assessment Fee £
55
Estimated Legal Fees £
650
Estimated Total Ingoing Costs £
64,857
Estimated Minimum Ingoing Costs £
22,476

In order to ensure a successful start-up, all applicants must have a minimum £10,000 un-borrowed funds.

The Estimated Licensee Fixtures & Fittings (F&F) Value assumes that the pub will be let on a Rolling Tenancy or Business Start-Up Agreement, where we own the majority of the F&F. The F&F Value for Full Repairing & Insuring Leases will be significantly more.

The calculation of the Estimated Minimum Ingoing Costs assumes a minimum deposit of 1 month's rent or £3,000 (whichever is greater) and that fixtures and fittings (F&F) are rented. The subsequent deposit build up and F&F rental costs are not included in the rent model or ongoing costs below.

Other SP&B Ongoing Charges
Estimated Annual Buildings Insurance £
719
Estimated Annual Maintenance Compliance Charge £
877
Estimated Annual Accountancy & Stocktaking Charge (including tills) £
5,950

The above figures are provided as a guide only and will be finalised as part of the commercial agreement (please download the rent model from Trading Information section for full financial details)

* All figures quoted are exclusive of VAT

** Deposit build up will be payable over a maximum of 24 months

*** Fixtures and Fittings annual rental fee should be estimated at 15% of the F&F value. The actual F&F value will be determined on the day of entry

**** Maintenance Compliance Charge relates to the fees for various statutory inspections

***** Estimated Legal Fees is a charge applied to your account by SP&B for creation of your Lease. You are required to engage and pay for your own solicitor - your solicitor's fees are not included in the above estimate

****** The above figures assume that rent is billed weekly in advance and that Star Pubs & Bars retain ownership of large fixtures and fittings. Initial costs for a Fully Repairing and Insuring lease will be higher as rent is invoiced monthly in advance and all fixtures and fittings must be purchased